Company Overview

Exagen Inc. is a U.S.-based precision diagnostics company operating in the healthcare diagnostics and biotechnology industries, with a primary focus on improving the diagnosis and management of autoimmune and rheumatic diseases. The company develops and commercializes proprietary blood-based diagnostic tests designed to support earlier, more accurate clinical decision-making for complex autoimmune conditions.

Exagen’s core revenue is driven by its AVISE® branded diagnostic testing portfolio, which is primarily used by rheumatologists to aid in the diagnosis, prognosis, and disease monitoring of conditions such as systemic lupus erythematosus (SLE) and other connective tissue diseases. The company is positioned as a specialized diagnostics provider leveraging biomarker science, algorithmic analysis, and clinical data integration. Founded in 2002, Exagen evolved from a research-focused diagnostics developer into a commercial-stage company, completing its initial public offering in 2019 and subsequently expanding reimbursement coverage and clinical adoption of its testing platform.

Business Operations

Exagen operates a single primary business model centered on laboratory-developed diagnostic testing, with testing services performed through its wholly owned Exagen Diagnostics, Inc. subsidiary. The company processes physician-ordered blood samples through its CLIA-certified and CAP-accredited laboratory, generating revenue on a per-test reimbursement basis from commercial insurers, Medicare, and other payers.

Operations are predominantly domestic, with the majority of revenue generated in the United States healthcare market. Exagen controls its proprietary biomarker panels, algorithms, and laboratory infrastructure, which underpin its AVISE® Lupus, AVISE® CTD, AVISE® SLE Monitor, and related testing services. The company does not report separate operating segments and does not rely on manufacturing or distribution partnerships, instead maintaining direct control over testing, billing, and physician engagement.

Strategic Position & Investments

Exagen’s strategic direction centers on expanding clinical adoption and payer reimbursement for its AVISE testing portfolio, particularly within rheumatology practices treating autoimmune disease patients. Growth initiatives include broadening Medicare coverage, increasing penetration within existing accounts, and generating additional clinical evidence to support guideline inclusion and physician utilization.

The company has not reported material acquisitions or divestitures in recent periods and does not operate a diversified investment portfolio. Strategic investments are primarily internal, focused on assay development, clinical studies, data analytics capabilities, and salesforce expansion. Exagen is also engaged in advancing biomarker-driven diagnostics for emerging use cases within autoimmune disease management, though disclosures indicate these efforts remain closely aligned with its core rheumatology focus.

Geographic Footprint

Exagen is headquartered in San Diego, California, and conducts substantially all operational activities within the United States. Its laboratory facilities, corporate offices, and commercial infrastructure are U.S.-based, reflecting its primary focus on the domestic healthcare reimbursement environment.

While Exagen’s testing services may be utilized by physicians treating internationally diverse patient populations, the company does not report meaningful direct operations, laboratories, or commercial sales organizations outside North America. International revenue contribution, if any, is not separately disclosed in public filings, and data inconclusive based on available public sources regarding material non-U.S. operational expansion.

Leadership & Governance

Exagen is led by an executive team with experience in diagnostics, life sciences, and healthcare commercialization. The company emphasizes disciplined execution, clinical validation, and payer alignment as core elements of its leadership philosophy and long-term strategy.

Key members of the leadership team include:

• John Aballi – President and Chief Executive Officer
• Jeff Black – Chief Financial Officer
• Eric Olson – Chief Commercial Officer
• Sally McCoy – Chief Operating Officer
• Michael Malone, PhD – Chief Scientific Officer

The company operates under a publicly traded governance framework, with oversight provided by an independent board of directors and reporting obligations governed by applicable SEC filings, including annual and quarterly disclosures.